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U ask - what did my comments re grp[a] and [b] have to do with tax action ?
LET'S TAKE A GOOD LOOK........... 600 people ($10/hr).. total annual income for grp [a] is 12 mil..
4 (four) with 3 mil each in grp [b] .. 12 mil...
a] 98% of income is used for current living expenses
b] 50% " " " " " " " "
a] 2% saved @.011 int rate
b] 50% invested - 'wall street'
a] helps banks increase profit
b] adds much to their own portfolio
IMPORTANT ... All costs in production and delivery of goods & services are passes on to the consumer..
(high compensation to executives, fees paid to athletes for endorsements, doctors paid
for writing 'scripts', TV commercials, fees paid to local stores for 'special shelf space',
attorney fees etc on & on ....
THE KICKER ... TAXES ... paid by all those involved in bringing' goods & services ' to market are therefor
passed on to the consumer.
CONCLUSION ... AS A PERCENT OF INCOME ... grp [a] pays more in taxes than grp [b]
indirect taxation is REAL ....